Broadcom Stock Down 20% After Guidance Miss

Broadcom stock fell 20% after its forward guidance missed Wall Street expectations, despite a strong quarterly earnings report. The company designs custom AI accelerators for hyperscalers like Alphabet, which recently unveiled the TPU 8t with 3x the processing power of its predecessor. Broadcom also supplies AI accelerators to Anthropic and OpenAI. Anthropic is buying at least $21 billion worth of Alphabet's TPUs through Broadcom, deployed through 2026 and 2027.